EUR futures: further pullbacks not ruled out
CME Group’s advanced figures for EUR futures markets showed open interest retreated by more than 3.5K contracts on Friday vs. Thursday’s final 496,954 contracts. On the other hand, volume increased by nearly 17.4K contracts.
EUR/USD a top in place?
Friday’s rejection from the 1.1950 region and subsequent close in the middle of the range has been amidst declining open interest and rising volume, leaving the scenario for EUR/USD unclear for the time being. Further and more sustainable gains, however, seems to need a stronger catalyst, which could come from the ECB before end of 2017.